We've discussed smart contracts multiple times on our blog, but not everyone fully understands their significance in the blockchain world.
A smart contract is a digital agreement operating on the blockchain, governed by a set of predefined rules.
The code of a smart contract is copied by all validator nodes, ensuring its transparency, immutability, and security.
Benefits of Using Smart Contracts:
- Automation: The terms of the deal and penalties are predefined, and the contract executes automatically.
- Immutability: The contract cannot be altered once deployed unless specified by the developers.
- Transparency: The source code can be open for analysis and research, allowing for quick identification of vulnerabilities. Our contracts' source code will be open in 2025.
- Cost Optimization: No personal meetings and intermediaries are required, which saves users money and time.
- Speed: Speeding up transaction process and minimizing bureaucracy.
Advantages of Smart Contracts on TON:
+ Scalability: TON's sharding architecture allows for efficient processing of numerous transactions.
+ Low Fees: Economic efficiency is achieved through a microtransaction system with fixed fees.
Smart contracts are used to create digital wallets, tokenized assets, exchanges, games, DAO communities, and other applications (DApps) on blockchains. They make interactions with cryptocurrencies convenient and secure, which is why we pay special attention to their quality.
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